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The Trump family's cryptocurrency project is deeply mired in a crisis of trust, with Sun Yuchen accusing the WLFI project of hiding backdoor control rights
Recently, the cryptocurrency project World Liberty Financial (WLFI), associated with the Trump family, has been embroiled in a serious trust crisis among investors, accused of setting a backdoor in the token smart contract that allows the project team to arbitrarily freeze, restrict, or block users' access to funds.
The central figure in this controversy is Sun Yuchen, the founder of TRON, who has invested over $100 million in the project in two rounds but has become the first investor to claim that his wallet has been frozen.
Sun Yuchen publicly accused the WLFI project of hiding a blacklist function in the token contract, which allows the project party to freeze investors' funds at will, without any prior notice or explanation.
Affected by this negative news, the market reacted strongly to the controversy, with investors raising serious doubts about the project's transparency and security, and the WLFI token price has also seen a decline.
In a statement, Sun Yuchen severely criticized the WLFI project for treating users as "personal ATMs," accusing the project party of bypassing community governance procedures to implement fund control measures without investors' authorization.
Currently, the WLFI project has not formally responded to these accusations, but this controversy has sparked important discussions in the cryptocurrency community regarding project transparency and investor protection.
This event also highlights the importance of investors conducting due diligence, as even projects related to well-known political families may carry potential risks of backdoor control rights and excessive centralization.
This incident fully underscores the importance of investors conducting due diligence. Because even if a project is associated with a well-known political family, there may still be potential risks of backdoor control rights and excessive centralization.
The core of blockchain technology lies in decentralization and user asset autonomy. Once a project truly has a reserved control right backdoor at the smart contract level, it directly contradicts the core principles of DeFi.
In summary, investors should carefully review the project's smart contract code and governance structure before making investment decisions related to the project to effectively guard against potential fund security risks.
#孙宇晨 #WLFI
Recently, the cryptocurrency project World Liberty Financial (WLFI), associated with the Trump family, has been embroiled in a serious trust crisis among investors, accused of setting a backdoor in the token smart contract that allows the project team to arbitrarily freeze, restrict, or block users' access to funds.
The central figure in this controversy is Sun Yuchen, the founder of TRON, who has invested over $100 million in the project in two rounds but has become the first investor to claim that his wallet has been frozen.
Sun Yuchen publicly accused the WLFI project of hiding a blacklist function in the token contract, which allows the project party to freeze investors' funds at will, without any prior notice or explanation.
Affected by this negative news, the market reacted strongly to the controversy, with investors raising serious doubts about the project's transparency and security, and the WLFI token price has also seen a decline.
In a statement, Sun Yuchen severely criticized the WLFI project for treating users as "personal ATMs," accusing the project party of bypassing community governance procedures to implement fund control measures without investors' authorization.
Currently, the WLFI project has not formally responded to these accusations, but this controversy has sparked important discussions in the cryptocurrency community regarding project transparency and investor protection.
This event also highlights the importance of investors conducting due diligence, as even projects related to well-known political families may carry potential risks of backdoor control rights and excessive centralization.
This incident fully underscores the importance of investors conducting due diligence. Because even if a project is associated with a well-known political family, there may still be potential risks of backdoor control rights and excessive centralization.
The core of blockchain technology lies in decentralization and user asset autonomy. Once a project truly has a reserved control right backdoor at the smart contract level, it directly contradicts the core principles of DeFi.
In summary, investors should carefully review the project's smart contract code and governance structure before making investment decisions related to the project to effectively guard against potential fund security risks.
#孙宇晨 #WLFI
After the failure of the Middle East peace talks, Trump's 50% tariff threat depressed Bitcoin
After the Middle East peace talks were declared a failure, U.S. President Trump issued a series of tough statements, not only ordering a blockade of the Strait of Hormuz but also threatening to impose a 50% tariff on countries providing weapons to Iran, further pushing Bitcoin prices down again.
Trump posted on social media that the negotiations were progressing smoothly, with both sides reaching consensus on most issues except for nuclear weapons, while he emphasized that the nuclear issue was the only core topic.
After the talks broke down, Trump announced that the U.S. Navy would block all vessels passing through the Strait of Hormuz and ordered the Navy to search and intercept vessels paying tolls to Iran in international waters.
He stated that entities illegally paying tolls would be unable to safely navigate the high seas, and the U.S. would also clear the mines Iran has laid in the strait; any Iranian personnel firing at U.S. or peace vessels would face strong retaliation.
In another post, Trump accused Iran of failing to fulfill its promise to reopen the strait, causing “anxiety, chaos, and suffering for many people and countries around the world.”
Additionally, Trump had previously warned that if any country was found to be providing weapons to Iran, the U.S. would impose a 50% tariff on the relevant country.
As a result of the failure of the Middle East negotiations, Bitcoin prices were significantly pressured down yesterday. After U.S. Vice President Pence announced that the two sides had failed to reach an agreement, Bitcoin dropped more than $2,000 within minutes;
and following the spread of Trump's related statements, cryptocurrency prices once fell below $71,000, hitting a multi-day low. Analysts believe that market volatility is expected to significantly increase after the opening of the traditional futures market tonight, particularly in the oil futures sector.
#比特币 #tariff
After the Middle East peace talks were declared a failure, U.S. President Trump issued a series of tough statements, not only ordering a blockade of the Strait of Hormuz but also threatening to impose a 50% tariff on countries providing weapons to Iran, further pushing Bitcoin prices down again.
Trump posted on social media that the negotiations were progressing smoothly, with both sides reaching consensus on most issues except for nuclear weapons, while he emphasized that the nuclear issue was the only core topic.
After the talks broke down, Trump announced that the U.S. Navy would block all vessels passing through the Strait of Hormuz and ordered the Navy to search and intercept vessels paying tolls to Iran in international waters.
He stated that entities illegally paying tolls would be unable to safely navigate the high seas, and the U.S. would also clear the mines Iran has laid in the strait; any Iranian personnel firing at U.S. or peace vessels would face strong retaliation.
In another post, Trump accused Iran of failing to fulfill its promise to reopen the strait, causing “anxiety, chaos, and suffering for many people and countries around the world.”
Additionally, Trump had previously warned that if any country was found to be providing weapons to Iran, the U.S. would impose a 50% tariff on the relevant country.
As a result of the failure of the Middle East negotiations, Bitcoin prices were significantly pressured down yesterday. After U.S. Vice President Pence announced that the two sides had failed to reach an agreement, Bitcoin dropped more than $2,000 within minutes;
and following the spread of Trump's related statements, cryptocurrency prices once fell below $71,000, hitting a multi-day low. Analysts believe that market volatility is expected to significantly increase after the opening of the traditional futures market tonight, particularly in the oil futures sector.
#比特币 #tariff
CFTC Chairman says it will continue to defend the agency's "exclusive regulatory authority" over prediction markets
Recently, CFTC Chairman Mike Selig stated at the Vanderbilt University Digital Assets Summit that the agency will continue to defend its "exclusive regulatory authority" over prediction markets in court.
Selig emphasized that whether in sports, politics, or other areas, any derivative products legally offered on exchanges under CFTC regulation fall under federal regulatory jurisdiction, and states have no authority to regulate using gambling laws instead of federal derivative laws.
This statement is closely related to CFTC's current legal actions. The agency is suing the states of Arizona, Illinois, and Connecticut, clearly asserting that CFTC has exclusive regulatory authority in the commodity derivatives market.
Selig pointed out that a recent ruling from the Third Circuit Court further supports CFTC's view that prediction markets should be regarded as derivative products under the Commodity Exchange Act, rather than as gambling services within state regulatory jurisdiction.
On the legal basis, Selig referenced the Dodd-Frank Act, stating that CFTC not only has the authority to regulate swap contracts but can also prohibit contracts related to war, terrorism, assassination, gambling, and other illegal activities based on public interest considerations.
Selig also stressed that even if relevant contracts need to undergo a public interest review, the regulatory authority remains exclusively with CFTC.
Currently, CFTC is clarifying its regulatory framework for prediction markets through a formal rulemaking process. Selig expressed that the agency is open to relevant regulatory suggestions and will conduct careful research based on the provisions of the Dodd-Frank Act.
Additionally, he mentioned that CFTC will collaborate with the Securities and Exchange Commission (SEC) to review the final interpretive guidance released last month to ensure both parties maintain consistent positions on digital asset regulation.
#CFTC
Recently, CFTC Chairman Mike Selig stated at the Vanderbilt University Digital Assets Summit that the agency will continue to defend its "exclusive regulatory authority" over prediction markets in court.
Selig emphasized that whether in sports, politics, or other areas, any derivative products legally offered on exchanges under CFTC regulation fall under federal regulatory jurisdiction, and states have no authority to regulate using gambling laws instead of federal derivative laws.
This statement is closely related to CFTC's current legal actions. The agency is suing the states of Arizona, Illinois, and Connecticut, clearly asserting that CFTC has exclusive regulatory authority in the commodity derivatives market.
Selig pointed out that a recent ruling from the Third Circuit Court further supports CFTC's view that prediction markets should be regarded as derivative products under the Commodity Exchange Act, rather than as gambling services within state regulatory jurisdiction.
On the legal basis, Selig referenced the Dodd-Frank Act, stating that CFTC not only has the authority to regulate swap contracts but can also prohibit contracts related to war, terrorism, assassination, gambling, and other illegal activities based on public interest considerations.
Selig also stressed that even if relevant contracts need to undergo a public interest review, the regulatory authority remains exclusively with CFTC.
Currently, CFTC is clarifying its regulatory framework for prediction markets through a formal rulemaking process. Selig expressed that the agency is open to relevant regulatory suggestions and will conduct careful research based on the provisions of the Dodd-Frank Act.
Additionally, he mentioned that CFTC will collaborate with the Securities and Exchange Commission (SEC) to review the final interpretive guidance released last month to ensure both parties maintain consistent positions on digital asset regulation.
#CFTC
Ceasefire turns into blockade: Trump's blockade of the Strait triggers oil prices, and the market may face a double test before the earnings season
On April 13, the talks between the U.S. and Iran in Pakistan lasted for over 20 hours but ultimately failed to reach an agreement. Trump immediately ordered the U.S. Navy to blockade the Strait of Hormuz, intercepting all ships paying tolls to Iran and threatening to resume limited military strikes against Iran.
On Monday, April 13, WTI crude oil opened significantly higher, up over 9%, and at one point surged over 10% to above $105; Brent crude futures reached a high of $103. Meanwhile, the three major U.S. stock index futures opened more than 1% lower, the dollar strengthened, and spot gold retraced all gains from the previous week.
This escalation directly slapped the investors who rushed into risk assets after the ceasefire was announced last week. Elias Haddad, the global market strategy director at Brown Brothers Harriman, bluntly stated that Trump's blockade would "certainly reignite risk aversion this week."
Complicating matters, the first quarter U.S. earnings season will officially kick off this week. Investors are currently focusing on two major market risks: whether soaring oil prices will drive up costs and erode profits, and whether consumers will start tightening their wallets due to rising energy prices.
Overall, the market this week will face a dual pressure test of "geopolitical + earnings performance." First, the significant rise in oil prices directly affects inflation expectations and consumer confidence;
Second, the earnings data will test whether corporate profits can withstand this round of impact, especially in sectors sensitive to oil prices such as aviation, logistics, and retail.
If most U.S. companies lower their profit expectations for the future during the earnings season, the market, which previously rebounded due to the ceasefire from geopolitical conflicts, may very likely see a downturn again.
#U.S. earnings season
On April 13, the talks between the U.S. and Iran in Pakistan lasted for over 20 hours but ultimately failed to reach an agreement. Trump immediately ordered the U.S. Navy to blockade the Strait of Hormuz, intercepting all ships paying tolls to Iran and threatening to resume limited military strikes against Iran.
On Monday, April 13, WTI crude oil opened significantly higher, up over 9%, and at one point surged over 10% to above $105; Brent crude futures reached a high of $103. Meanwhile, the three major U.S. stock index futures opened more than 1% lower, the dollar strengthened, and spot gold retraced all gains from the previous week.
This escalation directly slapped the investors who rushed into risk assets after the ceasefire was announced last week. Elias Haddad, the global market strategy director at Brown Brothers Harriman, bluntly stated that Trump's blockade would "certainly reignite risk aversion this week."
Complicating matters, the first quarter U.S. earnings season will officially kick off this week. Investors are currently focusing on two major market risks: whether soaring oil prices will drive up costs and erode profits, and whether consumers will start tightening their wallets due to rising energy prices.
Overall, the market this week will face a dual pressure test of "geopolitical + earnings performance." First, the significant rise in oil prices directly affects inflation expectations and consumer confidence;
Second, the earnings data will test whether corporate profits can withstand this round of impact, especially in sectors sensitive to oil prices such as aviation, logistics, and retail.
If most U.S. companies lower their profit expectations for the future during the earnings season, the market, which previously rebounded due to the ceasefire from geopolitical conflicts, may very likely see a downturn again.
#U.S. earnings season
The net inflow of the U.S. BTC and ETH spot ETFs this week approaches $1 billion, with BlackRock's products leading the net inflow
According to SosoValue data, the U.S. BTC spot ETF recorded a net inflow of $786 million this week, marking two consecutive weeks of total net inflow;
Among them, BlackRock's IBIT and Fidelity's FBTC led the net inflow rankings with $612 million and nearly $152 million, respectively;
Next are Grayscale's BTC, Bitwise's BITB, and ARK 21Shares' ARKB, which recorded single-week net inflows of $26.66 million, $25.05 million, and $18.33 million, respectively;
Following them are Valkyrie BRRR and Franklin EZBC, with single-week net inflows of $2.32 million and $2.08 million, respectively;
However, Grayscale's GBTC and VanEck's HODL recorded single-week net outflows of $52.99 million and $13.78 million, respectively;
As of now, the total net asset value of the Bitcoin spot ETF is $94.96 billion, accounting for 6.47% of Bitcoin's total market value, with a cumulative net inflow of $56.74 billion.
In the same week, the U.S. Ethereum spot ETF recorded a net inflow of $187 million, marking the first week of total net inflow since April;
Among them, BlackRock's ETHA and ETHB led the net inflow rankings with $168 million and $66 million, respectively;
Next are Grayscale's ETH and 21Shares' TETH, which recorded single-week net inflows of $18.44 million and $2.30 million, respectively;
Notably, Fidelity's FETH, Grayscale's ETHE, and Franklin's EZET recorded single-week net outflows of $62.13 million, $4.22 million, and $1.68 million, respectively;
As of now, the total net asset value of the Ethereum spot ETF is $12.96 billion, accounting for 4.76% of Ethereum's total market value, with a cumulative net inflow of $11.67 billion.
#比特币ETF #以太坊ETF
According to SosoValue data, the U.S. BTC spot ETF recorded a net inflow of $786 million this week, marking two consecutive weeks of total net inflow;
Among them, BlackRock's IBIT and Fidelity's FBTC led the net inflow rankings with $612 million and nearly $152 million, respectively;
Next are Grayscale's BTC, Bitwise's BITB, and ARK 21Shares' ARKB, which recorded single-week net inflows of $26.66 million, $25.05 million, and $18.33 million, respectively;
Following them are Valkyrie BRRR and Franklin EZBC, with single-week net inflows of $2.32 million and $2.08 million, respectively;
However, Grayscale's GBTC and VanEck's HODL recorded single-week net outflows of $52.99 million and $13.78 million, respectively;
As of now, the total net asset value of the Bitcoin spot ETF is $94.96 billion, accounting for 6.47% of Bitcoin's total market value, with a cumulative net inflow of $56.74 billion.
In the same week, the U.S. Ethereum spot ETF recorded a net inflow of $187 million, marking the first week of total net inflow since April;
Among them, BlackRock's ETHA and ETHB led the net inflow rankings with $168 million and $66 million, respectively;
Next are Grayscale's ETH and 21Shares' TETH, which recorded single-week net inflows of $18.44 million and $2.30 million, respectively;
Notably, Fidelity's FETH, Grayscale's ETHE, and Franklin's EZET recorded single-week net outflows of $62.13 million, $4.22 million, and $1.68 million, respectively;
As of now, the total net asset value of the Ethereum spot ETF is $12.96 billion, accounting for 4.76% of Ethereum's total market value, with a cumulative net inflow of $11.67 billion.
#比特币ETF #以太坊ETF
The U.S. BTC and ETH spot ETFs saw a cumulative net inflow of $305 million on Friday, with BlackRock's products leading the capital inflow.
On April 11, according to the latest data from Farside, the U.S. BTC spot ETF had a net inflow of $240 million yesterday, marking the third day of total net inflows this week; there were no BTC ETFs with net outflows yesterday.
Among them, BlackRock's IBIT and Fidelity's FBTC topped the inflow list with nearly $138 million and $78 million, respectively.
Next were Bitwise BITB and Grayscale BTC, with single-day net inflows of $9.5 million and $9.1 million, respectively.
Ark 21Shares ARKB and VanEck HODL recorded single-day net inflows of $3.6 million and $2.6 million, respectively.
On the same day, the U.S. Ethereum spot ETF recorded a net inflow of $64.9 million, also marking the third day of total net inflows this week.
Among them, BlackRock's ETHA and ETHB had net inflows of $53.7 million and $8.1 million, respectively, leading the inflow chart; next was 21Shares TETH with a single-day net inflow of $3.7 million.
However, Fidelity's FETH had a net outflow of $600,000, making it the only ETH ETF with a net outflow yesterday.
In summary, from the market structure perspective, investors seem to prefer well-known and highly liquid products like those from BlackRock, and this "head effect" may further exacerbate market differentiation.
From the perspective of the sustainability of capital flow, the ETF market recorded its third day of net inflows this week, indicating that institutional investors tend to use cryptocurrency ETFs as a hedge against inflation, particularly after the release of inflation data.
#比特币ETF #Ethereum ETF
On April 11, according to the latest data from Farside, the U.S. BTC spot ETF had a net inflow of $240 million yesterday, marking the third day of total net inflows this week; there were no BTC ETFs with net outflows yesterday.
Among them, BlackRock's IBIT and Fidelity's FBTC topped the inflow list with nearly $138 million and $78 million, respectively.
Next were Bitwise BITB and Grayscale BTC, with single-day net inflows of $9.5 million and $9.1 million, respectively.
Ark 21Shares ARKB and VanEck HODL recorded single-day net inflows of $3.6 million and $2.6 million, respectively.
On the same day, the U.S. Ethereum spot ETF recorded a net inflow of $64.9 million, also marking the third day of total net inflows this week.
Among them, BlackRock's ETHA and ETHB had net inflows of $53.7 million and $8.1 million, respectively, leading the inflow chart; next was 21Shares TETH with a single-day net inflow of $3.7 million.
However, Fidelity's FETH had a net outflow of $600,000, making it the only ETH ETF with a net outflow yesterday.
In summary, from the market structure perspective, investors seem to prefer well-known and highly liquid products like those from BlackRock, and this "head effect" may further exacerbate market differentiation.
From the perspective of the sustainability of capital flow, the ETF market recorded its third day of net inflows this week, indicating that institutional investors tend to use cryptocurrency ETFs as a hedge against inflation, particularly after the release of inflation data.
#比特币ETF #Ethereum ETF
Binance employee relocation report causes controversy, CZ clarifies and supports the UAE
Recently, according to various media and personal social media accounts, Binance, the world's largest cryptocurrency exchange, has provided options for employees in the UAE to temporarily relocate to Hong Kong, Tokyo, Kuala Lumpur, and Bangkok due to regional tensions. Some reports interpreted this as Binance's large-scale employee transfer, even negatively speculating about the UAE. In response, Binance founder Zhao Changpeng (CZ) posted on the X platform to clarify the related reports.
CZ explicitly stated that the news reports regarding Binance's "relocation benefits" are misleading, and fundamentally, it is another attempt to negatively smear the UAE, a tactic that is no longer new. He emphasized that Binance has long provided employees with flexible work location options and will offer reasonable relocation benefits based on actual circumstances, a policy that he has mentioned in his book and is not a special arrangement for this situation.
At the same time, CZ publicly supports the UAE, stating that it remains one of the safest countries in the world, with safety far surpassing many popular tourist countries. He also revealed that he might hold a book signing event in Dubai soon to convey confidence in the UAE market.
Binance had previously explained the relocation matter, emphasizing that providing temporary relocation options for employees is a precautionary measure centered on employees, aimed at offering flexibility and support during uncertain times. As a company that prioritizes remote work, Binance is fully capable of ensuring employees' work and life arrangements without affecting normal operations.
Overall, the core of this controversy lies in some media deliberately interpreting Binance's regular flexible working policy as a "mass evacuation from the UAE" to create negative public opinion. CZ's response not only clarified the facts but also stabilized market confidence in Binance and the UAE cryptocurrency industry through his statements and book signing arrangements.
#币安 #CZ
Recently, according to various media and personal social media accounts, Binance, the world's largest cryptocurrency exchange, has provided options for employees in the UAE to temporarily relocate to Hong Kong, Tokyo, Kuala Lumpur, and Bangkok due to regional tensions. Some reports interpreted this as Binance's large-scale employee transfer, even negatively speculating about the UAE. In response, Binance founder Zhao Changpeng (CZ) posted on the X platform to clarify the related reports.
CZ explicitly stated that the news reports regarding Binance's "relocation benefits" are misleading, and fundamentally, it is another attempt to negatively smear the UAE, a tactic that is no longer new. He emphasized that Binance has long provided employees with flexible work location options and will offer reasonable relocation benefits based on actual circumstances, a policy that he has mentioned in his book and is not a special arrangement for this situation.
At the same time, CZ publicly supports the UAE, stating that it remains one of the safest countries in the world, with safety far surpassing many popular tourist countries. He also revealed that he might hold a book signing event in Dubai soon to convey confidence in the UAE market.
Binance had previously explained the relocation matter, emphasizing that providing temporary relocation options for employees is a precautionary measure centered on employees, aimed at offering flexibility and support during uncertain times. As a company that prioritizes remote work, Binance is fully capable of ensuring employees' work and life arrangements without affecting normal operations.
Overall, the core of this controversy lies in some media deliberately interpreting Binance's regular flexible working policy as a "mass evacuation from the UAE" to create negative public opinion. CZ's response not only clarified the facts but also stabilized market confidence in Binance and the UAE cryptocurrency industry through his statements and book signing arrangements.
#币安 #CZ
The U.S. March CPI surged significantly, while Bitcoin prices did not rise dramatically.
As the situation of the U.S.-Iran war continues to ferment, market concerns about the trend of U.S. inflation are intensifying. Experts previously predicted that the consumer price index (CPI) in the U.S. would see a significant spike due to the impact of the war.
Meanwhile, the highly anticipated CPI data for March was officially released last night, marking the first complete month of inflation data since the outbreak of the U.S.-Iran war. The results were also highly consistent with market expectations, showing a significant rise in U.S. inflation rates.
Looking back at the previous inflation performance, the U.S. inflation data for February largely met market expectations, with a year-on-year increase of 2.4% and a month-on-month increase of 0.3%. At that time, the data had not yet been significantly affected by the direct impact of the U.S.-Iran war, and the inflation trend was relatively stable;
but entering March, the inflation situation changed significantly. Data released last night indicated that the monthly CPI increase expanded significantly to 0.9%, far exceeding the market performance in February;
While the actual published value of the core CPI (year-on-year) for March in the U.S. was 2.6%, instead of the market forecast of 2.7%, indicating that core inflation remains relatively controllable.
According to market analysis, the significant rise in CPI this time, influenced by the U.S.-Iran war, was primarily driven by the energy sector, due to a substantial spike in fuel costs, which contributed the most to the CPI increase for the month, becoming a key factor driving inflation upward.
Before the March CPI data was released, Bitcoin prices remained stable, hovering around $72,000; however, after the data was officially announced, prices did experience fluctuations but did not see a significant drop, currently still trading above the $72,500 range.
This market performance is also consistent with the previous statement made by the Federal Reserve Chairman. Powell stated that the Federal Reserve is unlikely to cut interest rates in the coming months before seeing further cooling of inflation, and the market has formed a consensus expectation, which has also influenced the price trend of Bitcoin.
#CPI
As the situation of the U.S.-Iran war continues to ferment, market concerns about the trend of U.S. inflation are intensifying. Experts previously predicted that the consumer price index (CPI) in the U.S. would see a significant spike due to the impact of the war.
Meanwhile, the highly anticipated CPI data for March was officially released last night, marking the first complete month of inflation data since the outbreak of the U.S.-Iran war. The results were also highly consistent with market expectations, showing a significant rise in U.S. inflation rates.
Looking back at the previous inflation performance, the U.S. inflation data for February largely met market expectations, with a year-on-year increase of 2.4% and a month-on-month increase of 0.3%. At that time, the data had not yet been significantly affected by the direct impact of the U.S.-Iran war, and the inflation trend was relatively stable;
but entering March, the inflation situation changed significantly. Data released last night indicated that the monthly CPI increase expanded significantly to 0.9%, far exceeding the market performance in February;
While the actual published value of the core CPI (year-on-year) for March in the U.S. was 2.6%, instead of the market forecast of 2.7%, indicating that core inflation remains relatively controllable.
According to market analysis, the significant rise in CPI this time, influenced by the U.S.-Iran war, was primarily driven by the energy sector, due to a substantial spike in fuel costs, which contributed the most to the CPI increase for the month, becoming a key factor driving inflation upward.
Before the March CPI data was released, Bitcoin prices remained stable, hovering around $72,000; however, after the data was officially announced, prices did experience fluctuations but did not see a significant drop, currently still trading above the $72,500 range.
This market performance is also consistent with the previous statement made by the Federal Reserve Chairman. Powell stated that the Federal Reserve is unlikely to cut interest rates in the coming months before seeing further cooling of inflation, and the market has formed a consensus expectation, which has also influenced the price trend of Bitcoin.
#CPI
The Hong Kong Monetary Authority (HKMA) has issued the first batch of licenses for stablecoin issuers, with HSBC and Standard Chartered Bank prominently included.
On April 10, the HKMA announced that it officially granted stablecoin issuer licenses to Anchor Financial Technology Limited and Hongkong and Shanghai Banking Corporation Limited, effective on the same day, under the "Stablecoin Ordinance" (Cap. 656).
It is worth noting that Anchor Financial Technology is a joint venture established by Standard Chartered Bank (Hong Kong) Limited, HKT Limited, and Animoca Brands Limited.
According to the plans of these two licensed institutions, they expect to officially commence stablecoin issuance operations in the coming months after completing various internal preparations. Among them, the license number for Standard Chartered Bank is FRS01, and the license number for HSBC is FRS02.
HKMA President Eddie Yue stated that the regulatory framework established by the HKMA aims to create a regulated and orderly operational environment for stablecoin issuers, laying a solid safety foundation for industry development and promoting the healthy, responsible, and sustainable growth of Hong Kong's stablecoin ecosystem.
The HKMA has set up a licensed record book for stablecoin issuers on its official website, which contains the latest detailed list of licensees and related information. This initiative provides the public with a convenient channel for inquiries, ensuring the transparency and accessibility of market information.
The public needs to maintain necessary vigilance when participating in the stablecoin market. To verify the legitimate identity of an issuer, one can refer to the record book provided by the HKMA to ensure that their rights and interests are effectively protected.
#香港金管局 #稳定币牌照
On April 10, the HKMA announced that it officially granted stablecoin issuer licenses to Anchor Financial Technology Limited and Hongkong and Shanghai Banking Corporation Limited, effective on the same day, under the "Stablecoin Ordinance" (Cap. 656).
It is worth noting that Anchor Financial Technology is a joint venture established by Standard Chartered Bank (Hong Kong) Limited, HKT Limited, and Animoca Brands Limited.
According to the plans of these two licensed institutions, they expect to officially commence stablecoin issuance operations in the coming months after completing various internal preparations. Among them, the license number for Standard Chartered Bank is FRS01, and the license number for HSBC is FRS02.
HKMA President Eddie Yue stated that the regulatory framework established by the HKMA aims to create a regulated and orderly operational environment for stablecoin issuers, laying a solid safety foundation for industry development and promoting the healthy, responsible, and sustainable growth of Hong Kong's stablecoin ecosystem.
The HKMA has set up a licensed record book for stablecoin issuers on its official website, which contains the latest detailed list of licensees and related information. This initiative provides the public with a convenient channel for inquiries, ensuring the transparency and accessibility of market information.
The public needs to maintain necessary vigilance when participating in the stablecoin market. To verify the legitimate identity of an issuer, one can refer to the record book provided by the HKMA to ensure that their rights and interests are effectively protected.
#香港金管局 #稳定币牌照
Over $2.2 billion in BTC and ETH options are expiring today, with limited impact on the spot market
On April 10th, approximately 26,592 Bitcoin options contracts are set to expire, with a nominal value of $1.9 billion. This expiration size is relatively small, similar to last week, and is expected to have limited impact on the spot market.
From the options structure, the put/call ratio for contracts expiring this week is 0.72, with more bullish positions than bearish. Data from Deribit shows that the maximum pain point is around $69,000, below the spot price, and many contracts may expire in an in-the-money loss state.
In terms of market sentiment, traders are buying short-term call options and various bullish structures while selling or rolling over put options, adjusting the strike prices upward, reflecting a more optimistic outlook.
At the same time, approximately 150,071 Ethereum contracts will also expire, with a nominal value of $337 million and a maximum pain point of $2,050, with a put/call ratio of 0.77.
Analysts believe that although the macro environment is full of uncertainty, multiple signals indicate that Ethereum is slowly improving, suggesting that signs of recovery are emerging in the Ethereum derivatives market.
Regarding market conditions, during today's early Asian session, Bitcoin briefly topped $73,000, up 7% over the past seven days, but remains in a range-bound fluctuation with strong resistance above.
Ethereum has maintained its gains for the week, trading slightly below $2,200 at the time of writing. Altcoins remained largely flat for the day, mostly still near bear market lows.
#期权到期
On April 10th, approximately 26,592 Bitcoin options contracts are set to expire, with a nominal value of $1.9 billion. This expiration size is relatively small, similar to last week, and is expected to have limited impact on the spot market.
From the options structure, the put/call ratio for contracts expiring this week is 0.72, with more bullish positions than bearish. Data from Deribit shows that the maximum pain point is around $69,000, below the spot price, and many contracts may expire in an in-the-money loss state.
In terms of market sentiment, traders are buying short-term call options and various bullish structures while selling or rolling over put options, adjusting the strike prices upward, reflecting a more optimistic outlook.
At the same time, approximately 150,071 Ethereum contracts will also expire, with a nominal value of $337 million and a maximum pain point of $2,050, with a put/call ratio of 0.77.
Analysts believe that although the macro environment is full of uncertainty, multiple signals indicate that Ethereum is slowly improving, suggesting that signs of recovery are emerging in the Ethereum derivatives market.
Regarding market conditions, during today's early Asian session, Bitcoin briefly topped $73,000, up 7% over the past seven days, but remains in a range-bound fluctuation with strong resistance above.
Ethereum has maintained its gains for the week, trading slightly below $2,200 at the time of writing. Altcoins remained largely flat for the day, mostly still near bear market lows.
#期权到期
Japan passed the amendment to the Financial Instruments and Exchange Act, officially bringing crypto assets under the regulation of financial products.
On April 10, the Japanese Cabinet approved the amendment to the Financial Instruments and Exchange Act, officially incorporating crypto assets into the regulatory framework for financial products for the first time;
This also means that the legal positioning of crypto assets in Japan is evolving from a past designation as a 'means of payment' to financial products similar to stocks and bonds.
According to the amendment, issuers of crypto assets will be required to disclose information annually, aimed at improving the market regulatory environment.
At the same time, the bill explicitly prohibits insider trading and other behaviors using undisclosed information, filling the gaps in the previous regulatory framework.
In addition, to more accurately reflect the core nature of practitioners' businesses, the registered practitioner name will change from 'crypto asset exchange operators' to 'crypto asset trading operators'.
The amendment also significantly increases the penalties for violations, extending the imprisonment period for those operating crypto trading without a license from the original 3 years or less to 10 years or less, and raising the maximum fine from 3 million yen to 10 million yen.
Previously, the Financial Services Agency viewed crypto assets as a means of payment for regulation based on the Act on Settlement of Funds, but as investment purposes have increased, the original framework could no longer effectively address market risks;
In light of this, the Financial Services Agency decided to change its regulatory approach and include crypto assets in the regulatory system of the Financial Instruments and Exchange Act.
Currently, the relevant amendment is on the agenda, and if it can be smoothly passed in the current Diet session, it is expected to officially come into effect in the fiscal year 2027.
#金融商品交易法 #日本
On April 10, the Japanese Cabinet approved the amendment to the Financial Instruments and Exchange Act, officially incorporating crypto assets into the regulatory framework for financial products for the first time;
This also means that the legal positioning of crypto assets in Japan is evolving from a past designation as a 'means of payment' to financial products similar to stocks and bonds.
According to the amendment, issuers of crypto assets will be required to disclose information annually, aimed at improving the market regulatory environment.
At the same time, the bill explicitly prohibits insider trading and other behaviors using undisclosed information, filling the gaps in the previous regulatory framework.
In addition, to more accurately reflect the core nature of practitioners' businesses, the registered practitioner name will change from 'crypto asset exchange operators' to 'crypto asset trading operators'.
The amendment also significantly increases the penalties for violations, extending the imprisonment period for those operating crypto trading without a license from the original 3 years or less to 10 years or less, and raising the maximum fine from 3 million yen to 10 million yen.
Previously, the Financial Services Agency viewed crypto assets as a means of payment for regulation based on the Act on Settlement of Funds, but as investment purposes have increased, the original framework could no longer effectively address market risks;
In light of this, the Financial Services Agency decided to change its regulatory approach and include crypto assets in the regulatory system of the Financial Instruments and Exchange Act.
Currently, the relevant amendment is on the agenda, and if it can be smoothly passed in the current Diet session, it is expected to officially come into effect in the fiscal year 2027.
#金融商品交易法 #日本
US BTC and ETH spot ETF cumulative total net inflow exceeded 443 million dollars on Thursday
On April 10, according to the latest data from SoSovalue, the US BTC spot ETF had a total net inflow of 358 million dollars yesterday, marking the second day of net inflow this week; there was no net outflow from any BTC ETF yesterday;
Among them, BlackRock's IBIT topped the net inflow list yesterday with 269 million dollars (approximately 3,740 BTC), currently with a cumulative total net inflow of 63.59 billion dollars;
Next is Fidelity's FBTC and Bitwise's BITB, which recorded a daily net inflow of 53.33 million dollars (740.71 BTC) and 11.73 million dollars (162.92 BTC), respectively;
Ark 21Shares ARKB, Franklin EZBC, and VanEck HODL recorded daily net inflows of 4.78 million dollars (66.37 BTC), 2.08 million dollars (28.91 BTC), and 2.04 million dollars (28.28 BTC), respectively;
As of now, the total net asset value of Bitcoin spot ETFs is 93.24 billion dollars, accounting for 6.43% of the total market value of Bitcoin, with a cumulative total net inflow of 56.49 billion dollars.
On the same day, the US Ethereum spot ETF recorded a total net inflow of 85.19 million dollars, also marking the second day of net inflow this week;
Among them, BlackRock's ETHA topped the net inflow list yesterday with 90.94 million dollars (approximately 41,080 ETH), currently with a cumulative total net inflow of 11.68 billion dollars;
Next is BlackRock's ETHB and Grayscale's ETH, which recorded daily net inflows of 13.67 million dollars (approximately 6,170 ETH) and 9.67 million dollars (approximately 4,370 ETH), respectively;
It is worth noting that Fidelity's FETH and 21Shares TETH recorded daily net outflows of 20.98 million dollars (approximately 9,480 ETH) and 5.53 million dollars (approximately 2,500 ETH), respectively;
Franklin EZET and Grayscale's ETHE recorded daily net outflows of 1.68 million dollars (758.17 ETH) and 0.90 million dollars (406.72 ETH), respectively;
As of now, the total net asset value of Ethereum spot ETFs is 12.69 billion dollars, accounting for 4.75% of the total market value of Ethereum, with a cumulative total net inflow of 11.60 billion dollars.
#比特币ETF #Ethereum ETF
On April 10, according to the latest data from SoSovalue, the US BTC spot ETF had a total net inflow of 358 million dollars yesterday, marking the second day of net inflow this week; there was no net outflow from any BTC ETF yesterday;
Among them, BlackRock's IBIT topped the net inflow list yesterday with 269 million dollars (approximately 3,740 BTC), currently with a cumulative total net inflow of 63.59 billion dollars;
Next is Fidelity's FBTC and Bitwise's BITB, which recorded a daily net inflow of 53.33 million dollars (740.71 BTC) and 11.73 million dollars (162.92 BTC), respectively;
Ark 21Shares ARKB, Franklin EZBC, and VanEck HODL recorded daily net inflows of 4.78 million dollars (66.37 BTC), 2.08 million dollars (28.91 BTC), and 2.04 million dollars (28.28 BTC), respectively;
As of now, the total net asset value of Bitcoin spot ETFs is 93.24 billion dollars, accounting for 6.43% of the total market value of Bitcoin, with a cumulative total net inflow of 56.49 billion dollars.
On the same day, the US Ethereum spot ETF recorded a total net inflow of 85.19 million dollars, also marking the second day of net inflow this week;
Among them, BlackRock's ETHA topped the net inflow list yesterday with 90.94 million dollars (approximately 41,080 ETH), currently with a cumulative total net inflow of 11.68 billion dollars;
Next is BlackRock's ETHB and Grayscale's ETH, which recorded daily net inflows of 13.67 million dollars (approximately 6,170 ETH) and 9.67 million dollars (approximately 4,370 ETH), respectively;
It is worth noting that Fidelity's FETH and 21Shares TETH recorded daily net outflows of 20.98 million dollars (approximately 9,480 ETH) and 5.53 million dollars (approximately 2,500 ETH), respectively;
Franklin EZET and Grayscale's ETHE recorded daily net outflows of 1.68 million dollars (758.17 ETH) and 0.90 million dollars (406.72 ETH), respectively;
As of now, the total net asset value of Ethereum spot ETFs is 12.69 billion dollars, accounting for 4.75% of the total market value of Ethereum, with a cumulative total net inflow of 11.60 billion dollars.
#比特币ETF #Ethereum ETF
CEX trading volume has reached a new low in 17 months, with market power shifting from retail-driven to institution-led.
According to analysis by CryptoQuant, the trading volume of global centralized exchanges (CEX) has been declining since it peaked at $8 trillion in October 2025, now down to $4.3 trillion, marking a new low in 17 months. This data indicates that the momentum in the cryptocurrency market is significantly cooling.
Despite the overall market slump, the trading volume of perpetual contracts has reached $3.5 trillion, accounting for over 70% of the total CEX trading volume, which is about 4 times the total spot trading volume, highlighting that the contract market is a major source of market liquidity.
In the overall market decline, Binance exchange still demonstrates resilience. This year, the trading volume reached $1 trillion, accounting for more than one-third of the market share, three times that of its closest competitor.
Last month, Binance's spot market trading volume reached $248 billion. Although its market share dropped from about 37% in March to 32%, it still leads significantly over other exchanges.
Meanwhile, in the perpetual contract sector, Binance's trading volume in March reached $1.4 trillion, with a total volume of over $4.5 trillion year-to-date, maintaining a market share of 40%, indicating that institutions and professional traders have been leading the derivatives market.
Other exchanges' spot markets, such as MEXC, have a trading volume of 9%, with a trading volume of $77 billion, and a total volume of approximately $263 billion year-to-date; Bybit has 7%, with a trading volume of $59 billion, and about $206 billion year-to-date;
In the perpetual contract field, OKX and Bybit's annual trading volumes are $2.2 trillion (19%) and $1.5 trillion (13%) respectively. OKX, Bybit, Bitget, and Coinbase have trading volumes of $0.7 trillion, $0.5 trillion, $0.3 trillion, and $0.2 trillion respectively.
In summary, the current cryptocurrency market shows signs of cooling, with CEX trading volume hitting a new low in 17 months. Against this backdrop, Binance dominates both spot and derivatives trading, with its market share far exceeding that of other exchanges.
Analysts believe that although the overall trading volume has decreased, it is far from the level of a "winter" since the market is shifting from retail-driven frenzy to rational games led by institutions.
#CEX
According to analysis by CryptoQuant, the trading volume of global centralized exchanges (CEX) has been declining since it peaked at $8 trillion in October 2025, now down to $4.3 trillion, marking a new low in 17 months. This data indicates that the momentum in the cryptocurrency market is significantly cooling.
Despite the overall market slump, the trading volume of perpetual contracts has reached $3.5 trillion, accounting for over 70% of the total CEX trading volume, which is about 4 times the total spot trading volume, highlighting that the contract market is a major source of market liquidity.
In the overall market decline, Binance exchange still demonstrates resilience. This year, the trading volume reached $1 trillion, accounting for more than one-third of the market share, three times that of its closest competitor.
Last month, Binance's spot market trading volume reached $248 billion. Although its market share dropped from about 37% in March to 32%, it still leads significantly over other exchanges.
Meanwhile, in the perpetual contract sector, Binance's trading volume in March reached $1.4 trillion, with a total volume of over $4.5 trillion year-to-date, maintaining a market share of 40%, indicating that institutions and professional traders have been leading the derivatives market.
Other exchanges' spot markets, such as MEXC, have a trading volume of 9%, with a trading volume of $77 billion, and a total volume of approximately $263 billion year-to-date; Bybit has 7%, with a trading volume of $59 billion, and about $206 billion year-to-date;
In the perpetual contract field, OKX and Bybit's annual trading volumes are $2.2 trillion (19%) and $1.5 trillion (13%) respectively. OKX, Bybit, Bitget, and Coinbase have trading volumes of $0.7 trillion, $0.5 trillion, $0.3 trillion, and $0.2 trillion respectively.
In summary, the current cryptocurrency market shows signs of cooling, with CEX trading volume hitting a new low in 17 months. Against this backdrop, Binance dominates both spot and derivatives trading, with its market share far exceeding that of other exchanges.
Analysts believe that although the overall trading volume has decreased, it is far from the level of a "winter" since the market is shifting from retail-driven frenzy to rational games led by institutions.
#CEX
Direct negotiations between the U.S. and Iran will start this Saturday, with the goal of reaching a permanent ceasefire agreement.
According to market news, sources from the Pakistani government have revealed that U.S. and Iranian delegations will hold "direct" talks in Islamabad, aiming to achieve a "permanent ceasefire" agreement.
The negotiations are scheduled to begin on Saturday, hosted by Pakistan, at a highly secured military location, with security organized by the Pakistani military.
The format of the negotiations will include both direct and indirect contacts between the delegations, with face-to-face meetings and separate discussions with the Pakistani side.
Given the complexity of the issues, discussions may last "several days", but for security reasons, the direct negotiations may not exceed two to three days. Sources emphasize that there is no fixed timetable for the talks, and adjustments will be made flexibly based on progress.
These direct negotiations are taking place against the backdrop of a two-week temporary ceasefire agreement reached between the U.S. and Iran. Previously, the U.S. and Iran agreed to a two-week temporary ceasefire under Pakistan's mediation, which took effect at 4 a.m. Iranian time on April 8.
U.S. President Trump stated on social media that at Pakistan's request, the U.S. decided to postpone its planned military strikes against Iran, provided that Iran agrees to "fully, immediately, and safely" open the Strait of Hormuz.
Analysts say that the success or failure of the Islamabad talks directly impacts the peace process in the Middle East. If both sides reach an agreement on Iran's "10-point plan", it not only hopes to end the current military conflict but may also lay the foundation for a new security framework in the Middle East.
However, considering the long-standing profound differences between the U.S. and Iran, the negotiation process may be challenging, requiring all parties to demonstrate sufficient political wisdom and a spirit of compromise.
#美伊永久停火谈判
According to market news, sources from the Pakistani government have revealed that U.S. and Iranian delegations will hold "direct" talks in Islamabad, aiming to achieve a "permanent ceasefire" agreement.
The negotiations are scheduled to begin on Saturday, hosted by Pakistan, at a highly secured military location, with security organized by the Pakistani military.
The format of the negotiations will include both direct and indirect contacts between the delegations, with face-to-face meetings and separate discussions with the Pakistani side.
Given the complexity of the issues, discussions may last "several days", but for security reasons, the direct negotiations may not exceed two to three days. Sources emphasize that there is no fixed timetable for the talks, and adjustments will be made flexibly based on progress.
These direct negotiations are taking place against the backdrop of a two-week temporary ceasefire agreement reached between the U.S. and Iran. Previously, the U.S. and Iran agreed to a two-week temporary ceasefire under Pakistan's mediation, which took effect at 4 a.m. Iranian time on April 8.
U.S. President Trump stated on social media that at Pakistan's request, the U.S. decided to postpone its planned military strikes against Iran, provided that Iran agrees to "fully, immediately, and safely" open the Strait of Hormuz.
Analysts say that the success or failure of the Islamabad talks directly impacts the peace process in the Middle East. If both sides reach an agreement on Iran's "10-point plan", it not only hopes to end the current military conflict but may also lay the foundation for a new security framework in the Middle East.
However, considering the long-standing profound differences between the U.S. and Iran, the negotiation process may be challenging, requiring all parties to demonstrate sufficient political wisdom and a spirit of compromise.
#美伊永久停火谈判
The February PCE report in the United States will be released tonight, and the market expects the Federal Reserve to maintain a high interest rate policy environment in April.
On April 9, the market generally predicts that the Personal Consumption Expenditures (PCE) price index for February, to be released at 20:30 tonight, will be significantly higher than the Federal Reserve's long-term inflation target of 2%, which may force the Fed to continue maintaining high interest rate policies at the interest rate meeting at the end of April.
Meanwhile, as one of the core indicators the Fed uses to measure inflation headline levels, the core PCE (excluding volatile food and energy) is expected to show a month-on-month growth of 0.4% in February (previous value 0.4%), indicating that the market has strong inflation stickiness.
In the face of still hot inflation data, the prospects for interest rate cuts by the Fed are becoming increasingly dim. Currently, the CME FedWatch Tool shows that over 98.4% of traders expect the Fed to maintain the federal funds rate in the range of 3.50%-3.75% at the meeting on April 29, which may also mark the Fed's third consecutive meeting of keeping rates unchanged.
However, just a month ago, about 40% of investors were betting that the Fed would significantly cut interest rates before September 2026; but now, nearly 90% of participants have turned to a wait-and-see approach, believing that the Fed's rates will remain at the current high levels until the end of the third quarter of this year.
Overall, if tonight's PCE report confirms the stubbornness of inflation, then the market's expectations for "later and fewer" rate cuts this year will be thoroughly solidified.
#PCE #通胀
On April 9, the market generally predicts that the Personal Consumption Expenditures (PCE) price index for February, to be released at 20:30 tonight, will be significantly higher than the Federal Reserve's long-term inflation target of 2%, which may force the Fed to continue maintaining high interest rate policies at the interest rate meeting at the end of April.
Meanwhile, as one of the core indicators the Fed uses to measure inflation headline levels, the core PCE (excluding volatile food and energy) is expected to show a month-on-month growth of 0.4% in February (previous value 0.4%), indicating that the market has strong inflation stickiness.
In the face of still hot inflation data, the prospects for interest rate cuts by the Fed are becoming increasingly dim. Currently, the CME FedWatch Tool shows that over 98.4% of traders expect the Fed to maintain the federal funds rate in the range of 3.50%-3.75% at the meeting on April 29, which may also mark the Fed's third consecutive meeting of keeping rates unchanged.
However, just a month ago, about 40% of investors were betting that the Fed would significantly cut interest rates before September 2026; but now, nearly 90% of participants have turned to a wait-and-see approach, believing that the Fed's rates will remain at the current high levels until the end of the third quarter of this year.
Overall, if tonight's PCE report confirms the stubbornness of inflation, then the market's expectations for "later and fewer" rate cuts this year will be thoroughly solidified.
#PCE #通胀
The US-Iran ceasefire boosts Bitcoin's short-term rebound, but overall confidence in the crypto market remains insufficient.
On April 9, despite a mild shift in ETF inflows last week, the overall crypto market environment still lacks strong confidence support due to weak spot demand and a slowdown in futures activity.
On Wednesday, influenced by the news of the US-Iran two-week ceasefire, Bitcoin prices reached a three-week high of $72,700. However, this upward trend could not be sustained, and prices sharply fell during Thursday's Asian trading session, briefly dropping back below $71,000.
On-chain data analysis platform Glassnode reported that Bitcoin "is still within the bear market value range," and the current rebound is more of a technical adjustment within the bear market.
In terms of market activity, Binance's 30-day spot trading volume remains below the 1.0 benchmark, further highlighting the lack of strong natural demand behind the recent price stabilization.
Meanwhile, CryptoQuant analyst Darkfost observed that the number of addresses depositing Bitcoin into exchanges is “sharply declining,” which is undoubtedly an “obvious signal of the overall market activity slowing down.”
Data shows that the current number of exchange deposit addresses has fallen to a ten-year low, with a 30-day moving average of about 31,000 addresses depositing BTC daily, only comparable to the activity level of 2017, far below the annual average of 47,000 deposit addresses.
Historically, a sharp contraction in deposit addresses usually occurs in the late stages of a bear market, reflecting that the enthusiasm of current market participants is cooling and interest in cryptocurrencies is gradually fading.
Despite the short-term poor market performance, RealVision CEO Raoul Pal optimistically pointed out that global total liquidity, M2 money supply, and liquidity between China and the US are all on the rise, which also provides positive support for high-risk assets.
In summary, although the current Bitcoin and cryptocurrency market faces many difficulties, market development is often full of variables. Whether the bear market will continue or if the current rebound is a prelude to a bull market depends not only on internal factors such as current market supply and demand and investor confidence but also on external factors such as the global macroeconomic environment.
#比特币 #市场分析
On April 9, despite a mild shift in ETF inflows last week, the overall crypto market environment still lacks strong confidence support due to weak spot demand and a slowdown in futures activity.
On Wednesday, influenced by the news of the US-Iran two-week ceasefire, Bitcoin prices reached a three-week high of $72,700. However, this upward trend could not be sustained, and prices sharply fell during Thursday's Asian trading session, briefly dropping back below $71,000.
On-chain data analysis platform Glassnode reported that Bitcoin "is still within the bear market value range," and the current rebound is more of a technical adjustment within the bear market.
In terms of market activity, Binance's 30-day spot trading volume remains below the 1.0 benchmark, further highlighting the lack of strong natural demand behind the recent price stabilization.
Meanwhile, CryptoQuant analyst Darkfost observed that the number of addresses depositing Bitcoin into exchanges is “sharply declining,” which is undoubtedly an “obvious signal of the overall market activity slowing down.”
Data shows that the current number of exchange deposit addresses has fallen to a ten-year low, with a 30-day moving average of about 31,000 addresses depositing BTC daily, only comparable to the activity level of 2017, far below the annual average of 47,000 deposit addresses.
Historically, a sharp contraction in deposit addresses usually occurs in the late stages of a bear market, reflecting that the enthusiasm of current market participants is cooling and interest in cryptocurrencies is gradually fading.
Despite the short-term poor market performance, RealVision CEO Raoul Pal optimistically pointed out that global total liquidity, M2 money supply, and liquidity between China and the US are all on the rise, which also provides positive support for high-risk assets.
In summary, although the current Bitcoin and cryptocurrency market faces many difficulties, market development is often full of variables. Whether the bear market will continue or if the current rebound is a prelude to a bull market depends not only on internal factors such as current market supply and demand and investor confidence but also on external factors such as the global macroeconomic environment.
#比特币 #市场分析
The U.S. BTC and ETH spot ETFs experienced a cumulative net outflow of $143 million on Wednesday.
On April 9, according to the latest data from SoSovalue, the U.S. BTC spot ETF recorded a net outflow of nearly $125 million yesterday, marking two consecutive days of total net outflows;
Among them, Fidelity FBTC and Ark&21Shares ARKB recorded net outflows of $79.12 million (approximately 1,110 BTC) and $74.70 million (approximately 1,050 BTC) respectively in a single day;
Next, Grayscale GBTC had a single-day net outflow of $11.10 million (155.85 BTC), with a cumulative total net outflow of $26.08 billion so far;
It is noteworthy that BlackRock IBIT had a single-day net inflow of $40.38 million (566.76 BTC), becoming the only BTC ETF with a net inflow yesterday;
As of now, the total net asset value of Bitcoin spot ETFs is $91.90 billion, accounting for 6.43% of the total market capitalization of Bitcoin, with a cumulative total net inflow of $56.15 billion.
On the same day, the U.S. Ethereum spot ETF recorded a net outflow of $18.63 million, also marking two consecutive days of total net outflows;
Among them, Fidelity FETH and BlackRock ETHA recorded net outflows of $32.43 million (approximately 14,710 ETH) and $20.64 million (approximately 9,360 ETH) respectively in a single day;
Next, Grayscale's ETHE and ETH recorded single-day net outflows of $6.11 million (approximately 2,770 ETH) and $5.66 million (approximately 2,570 ETH) respectively;
Meanwhile, BlackRock ETHB and 21Shares TETH recorded net inflows of $44.23 million (approximately 20,060 ETH) and $1.98 million (898.56 ETH) respectively in a single day;
As of now, the total net asset value of Ethereum spot ETFs is $12.56 billion, accounting for 4.71% of the total market capitalization of Ethereum, with a cumulative total net inflow of $11.52 billion.
#比特币ETF #EthereumETF
On April 9, according to the latest data from SoSovalue, the U.S. BTC spot ETF recorded a net outflow of nearly $125 million yesterday, marking two consecutive days of total net outflows;
Among them, Fidelity FBTC and Ark&21Shares ARKB recorded net outflows of $79.12 million (approximately 1,110 BTC) and $74.70 million (approximately 1,050 BTC) respectively in a single day;
Next, Grayscale GBTC had a single-day net outflow of $11.10 million (155.85 BTC), with a cumulative total net outflow of $26.08 billion so far;
It is noteworthy that BlackRock IBIT had a single-day net inflow of $40.38 million (566.76 BTC), becoming the only BTC ETF with a net inflow yesterday;
As of now, the total net asset value of Bitcoin spot ETFs is $91.90 billion, accounting for 6.43% of the total market capitalization of Bitcoin, with a cumulative total net inflow of $56.15 billion.
On the same day, the U.S. Ethereum spot ETF recorded a net outflow of $18.63 million, also marking two consecutive days of total net outflows;
Among them, Fidelity FETH and BlackRock ETHA recorded net outflows of $32.43 million (approximately 14,710 ETH) and $20.64 million (approximately 9,360 ETH) respectively in a single day;
Next, Grayscale's ETHE and ETH recorded single-day net outflows of $6.11 million (approximately 2,770 ETH) and $5.66 million (approximately 2,570 ETH) respectively;
Meanwhile, BlackRock ETHB and 21Shares TETH recorded net inflows of $44.23 million (approximately 20,060 ETH) and $1.98 million (898.56 ETH) respectively in a single day;
As of now, the total net asset value of Ethereum spot ETFs is $12.56 billion, accounting for 4.71% of the total market capitalization of Ethereum, with a cumulative total net inflow of $11.52 billion.
#比特币ETF #EthereumETF
Michael Saylor: Bitcoin may have bottomed out around $60,000 in early February, the risks of quantum computing threats are exaggerated
On April 9, Strategy co-founder Michael Saylor stated at an event hosted by Mizuho (Japan's Mizuho Financial Group) that Bitcoin likely bottomed out around $60,000 in early February, with the bottom being more determined by seller exhaustion than valuation.
Saylor believes that the current market sell-off pressure is limited, mainly due to the inflow of ETF funds absorbing the daily supply, and an increasing number of companies are reallocating assets towards Bitcoin.
Regarding the catalyst for the next bull market, Saylor believes it will be a Bitcoin market system built on bank credit and the digital credit market, which will also transform Bitcoin from a non-yielding asset into a growth engine for the capital market.
On the recently discussed topic of quantum computing threats, Saylor believes the associated risks are exaggerated. He argues that this threat is theoretical and may take decades to become a reality, by which time there will also be solutions available.
Moreover, Mizuho has maintained its outperform rating for Strategy and a target price of $320, which offers about 150% upside potential compared to the current stock price of $127.
Although Saylor's optimistic expectations provide a reference for investors, uncertainties such as regulatory policies and macroeconomic factors may still have a significant impact on the Bitcoin market. Investors should remain rational while seizing opportunities and manage risks effectively.
#比特币 #量子计算威胁
On April 9, Strategy co-founder Michael Saylor stated at an event hosted by Mizuho (Japan's Mizuho Financial Group) that Bitcoin likely bottomed out around $60,000 in early February, with the bottom being more determined by seller exhaustion than valuation.
Saylor believes that the current market sell-off pressure is limited, mainly due to the inflow of ETF funds absorbing the daily supply, and an increasing number of companies are reallocating assets towards Bitcoin.
Regarding the catalyst for the next bull market, Saylor believes it will be a Bitcoin market system built on bank credit and the digital credit market, which will also transform Bitcoin from a non-yielding asset into a growth engine for the capital market.
On the recently discussed topic of quantum computing threats, Saylor believes the associated risks are exaggerated. He argues that this threat is theoretical and may take decades to become a reality, by which time there will also be solutions available.
Moreover, Mizuho has maintained its outperform rating for Strategy and a target price of $320, which offers about 150% upside potential compared to the current stock price of $127.
Although Saylor's optimistic expectations provide a reference for investors, uncertainties such as regulatory policies and macroeconomic factors may still have a significant impact on the Bitcoin market. Investors should remain rational while seizing opportunities and manage risks effectively.
#比特币 #量子计算威胁
After the U.S. and Iran reached a two-week ceasefire agreement, Iran has not relaxed its control over the Strait of Hormuz.
On April 9, according to a report from The Wall Street Journal, Iran has informed mediators that it will limit the number of vessels passing through the Strait of Hormuz to about 12 per day and will charge tolls.
This move clearly exceeds the scope of the ceasefire agreement reached under Trump's mediation and shows Tehran's intention to formally transform the temporary control gained during wartime into a long-term management mechanism.
Iranian state media Press TV reported that the Strait of Hormuz has been fully closed, and all passing vessels must coordinate with military forces to force non-compliant tankers to turn back.
According to data from S&P Global Market Intelligence, only four vessels were allowed to pass on Wednesday, the fewest since April, while before the conflict, more than 100 vessels passed daily.
Additionally, mediators and ship brokers revealed that Iran requires vessels to agree on fees in advance for passage, thereby using this war to create new pressure tactics and sources of revenue;
However, with the U.S. and Iran reaching a two-week ceasefire agreement on Tuesday, this arrangement has been solidified into a normalized management setup.
This shift has also caused deep concern among Gulf oil-producing countries and the European and Asian consumer nations that rely on these energy sources, as most of these countries’ energy exports depend on this strait.
Overall, although the U.S. continues to publicly advocate for the freedom and openness of the strait, Iran has shown no willingness to relax its control, further highlighting Iran's determination to use the Strait of Hormuz as a strategic lever.
Whether this incident will escalate will depend on the U.S. side's tolerance threshold for Iranian actions during the ceasefire and whether Gulf countries and the international community can form an effective counterforce.
Therefore, if Iran continues to solidify control under the window period of the "ceasefire," the agreement originally intended to de-escalate could instead become a trigger for the next round of escalation in the game.
#停火协议 #通行限制
On April 9, according to a report from The Wall Street Journal, Iran has informed mediators that it will limit the number of vessels passing through the Strait of Hormuz to about 12 per day and will charge tolls.
This move clearly exceeds the scope of the ceasefire agreement reached under Trump's mediation and shows Tehran's intention to formally transform the temporary control gained during wartime into a long-term management mechanism.
Iranian state media Press TV reported that the Strait of Hormuz has been fully closed, and all passing vessels must coordinate with military forces to force non-compliant tankers to turn back.
According to data from S&P Global Market Intelligence, only four vessels were allowed to pass on Wednesday, the fewest since April, while before the conflict, more than 100 vessels passed daily.
Additionally, mediators and ship brokers revealed that Iran requires vessels to agree on fees in advance for passage, thereby using this war to create new pressure tactics and sources of revenue;
However, with the U.S. and Iran reaching a two-week ceasefire agreement on Tuesday, this arrangement has been solidified into a normalized management setup.
This shift has also caused deep concern among Gulf oil-producing countries and the European and Asian consumer nations that rely on these energy sources, as most of these countries’ energy exports depend on this strait.
Overall, although the U.S. continues to publicly advocate for the freedom and openness of the strait, Iran has shown no willingness to relax its control, further highlighting Iran's determination to use the Strait of Hormuz as a strategic lever.
Whether this incident will escalate will depend on the U.S. side's tolerance threshold for Iranian actions during the ceasefire and whether Gulf countries and the international community can form an effective counterforce.
Therefore, if Iran continues to solidify control under the window period of the "ceasefire," the agreement originally intended to de-escalate could instead become a trigger for the next round of escalation in the game.
#停火协议 #通行限制
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